Group 1 - The core viewpoint of the article highlights the performance of the Chip ETF (159995), which opened down by 0.88% at 1.910 yuan on February 11 [1] - Major holdings in the Chip ETF include companies such as SMIC, which fell by 1.89%, Haiguang Information down by 1.54%, and Cambrian down by 1.09% [1] - The ETF's performance benchmark is the National Securities Semiconductor Chip Index return rate, managed by Huaxia Fund Management Co., with a return of 92.76% since its inception on January 20, 2020, and a 1.42% return over the past month [1]

Group 1 - The core viewpoint of the article highlights the performance of the Chip ETF Huatai Fu (516920), which opened down by 0.96% at 1.132 yuan on February 11 [1] - The major holdings of the Chip ETF experienced declines, with notable drops including Cambricon down 1.09%, SMIC down 1.89%, and GigaDevice down 1.69% [1] - The performance benchmark for the Chip ETF is the CSI Chip Industry Index return, with a total return of 14.40% since its establishment on July 27, 2021, and a one-month return of 0.56% [1]

花旗发表研报，对澜起科技开展为期90日的上行催化剂观察，预期国家十五五规划纲要将于下月全国两 会审议后公布，若当局届时提及正面的AI资本支出支持计划，并为市场订立AI基础设施发展目标，将 有助于澜起科技估值获进一步重估。该行又指，基于CPU的服务器需求增长，智能体AI应用新发展也可 能被催化，带动更多DIMM存储器模块使用，对该公司存储器界面业务带来上行空间，推动今明两年盈 利增长。花旗给予澜起科技"买入"评级，目标价为205港元，对应今年下半年至明年上半年预测市盈率 约54倍。 ...

来源：新浪基金∞工作室 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 2月11日，科创价值ETF华夏（589550）开盘跌0.45%，报1.322元。科创价值ETF华夏（589550）重仓股 方面，中芯国际开盘跌1.89%，寒武纪跌1.09%，海光信息跌1.54%，时代电气涨0.32%，澜起科技跌 1.46%，天能股份涨0.40%，中微公司跌0.71%，华润微跌0.34%，威胜信息跌0.10%，奥特维涨0.67%。 科创价值ETF华夏（589550）业绩比较基准为上证智选科创板价值50策略指数收益率，管理人为华夏基 金管理有限公司，基金经理为杨斯琪，成立（2025-07-16）以来回报为32.87%，近一个月回报为 2.15%。 ...

Group 1 - The core point of the article highlights the performance of the Chip ETF Dongcai (159599), which opened with a slight decline of 0.35% at 2.269 yuan [1] - The major holdings of the Chip ETF Dongcai include companies such as Cambrian, SMIC, and Haiguang Information, all of which experienced declines in their stock prices, with SMIC down by 1.89% and Cambrian down by 1.09% [1] - The performance benchmark for the Chip ETF Dongcai is the CSI Chip Industry Index return, managed by Dongcai Fund Management Co., with a return of 127.89% since its establishment on April 19, 2024, and a monthly return of 0.62% [1]

Group 1 - The semiconductor ETF Southern (159325) opened down 0.30% at 1.641 yuan [1] - Major holdings in the semiconductor ETF showed mixed performance, with notable declines in stocks such as Cambrian (-1.09%), SMIC (-1.89%), and GigaDevice (-1.69%), while Tuojing Technology saw a slight increase of 0.02% [1] - The performance benchmark for the semiconductor ETF is the CSI Semiconductor Industry Select Index return, managed by Southern Fund Management Co., Ltd. [1] Group 2 - Since its establishment on October 31, 2024, the fund has achieved a return of 64.93%, but has experienced a decline of 0.24% over the past month [1]

Core Insights - The PCIe interconnect chip industry is experiencing exponential growth due to the increasing demand for high bandwidth, low latency, and multi-device high-speed interconnects, driven by advancements in large model training, inference, and distributed computing [1][7] - The global market size for PCIe interconnect chips is projected to reach $3.109 billion by 2025, with a year-on-year growth of 35.9%, where PCIe Switch accounts for approximately 81.20% and PCIe Retimer for about 18.80% [1][7] Market Overview - High-speed interconnect chips are essential for enabling high-speed data exchange in data centers, servers, and computers, addressing bottlenecks in data transmission amid the continuous upgrade of intelligent computing systems [2] - The PCIe interconnect chip market is categorized into PCIe Retimer and PCIe Switch chips, which are critical components for high-speed data interconnect in data centers and servers [2] Market Policies - China has established strategic goals for the semiconductor industry, promoting self-sufficiency and providing a favorable policy environment for the development of the PCIe interconnect chip industry through various supportive policies [4][5] Industry Chain - The upstream of the PCIe interconnect chip industry includes semiconductor material suppliers, equipment manufacturers, and IP core providers, while the midstream involves design, manufacturing, packaging, and testing [6] - The downstream applications encompass servers, storage devices, network equipment, high-end PCs, consumer electronics, industrial control, and automotive electronics, with servers being the core application market [6] Development Status - The demand for PCIe interconnect chips is significantly driven by the rapid deployment of GPUs and AI chips, with the domestic market projected to reach 5.24 billion yuan by 2025, reflecting a year-on-year growth of 28.6% [7][8] Competitive Landscape - The PCIe interconnect chip industry is characterized by high technical, financial, and ecological barriers, leading to a concentrated market where the top players dominate, with PCIe Retimer CR2 market share reaching 96.9% and PCIe Switch suppliers holding over 90% of the market [9][10] Company Analysis - Lanqi Technology Co., Ltd. is a leading international data processing and interconnect chip design company, with a reported revenue of 4.058 billion yuan in the first nine months of 2025, where PCIe/CXL interconnect chip revenue accounted for 7.56% [10] - Beijing Shudu Information Technology Co., Ltd. focuses on developing high-speed interconnect technology products, aiming to meet core demands in the global computing field [10] Development Trends - Future PCIe interface standards will evolve towards higher transmission rates and multi-functional integration, enhancing data transmission, signal optimization, and power control [12] - Domestic PCIe interconnect chip companies are expected to overcome core technology barriers and gradually penetrate high-end markets, reducing reliance on overseas IP cores [13] - The industry is moving towards a collaborative ecosystem, with leading companies forming alliances to promote technology standards and enhance overall competitiveness [14]

根据本次发行方案，公司同意由整体协调人(代表国际包销商)于2026年2月 10 日悉数行使超额配售权， 按发售价每股 H 股股份106.89 港元发行988.35万股H股股份。前述超额配售权悉数行使后，本次发行的 H 股由6589万 股增加至7577.35万 股。香港联交所已批准该等超额配售股份上市及买卖，预计将于2026 年 2 月 13 日(星期五)上午 9 时开始在香港联交所主板上市及买卖。 格隆汇2月11日丨澜起科技(688008.SH)公布，经香港联交所批准，公司发行的6589万股H 股股票(行使超 额配售权之前)已于 2026 年 2 月 9 日在香港联交所主板挂牌并上市交易。公司 H 股股票中文简称为"澜 起科技"，英文简称为"MONTAGETECH"，股份代号为"6809"。 ...

经香港联合交易所有限公司（以下简称"香港联交所"）批准，澜起科技股 份有限公司（以下简称"公司"） 发行的 65,890,000 股 H 股股票（行使超额配 售权之前）已于 2026 年 2 月 9 日在香港联交所主板挂牌并上市交易（以下简称 "本次发行"）。公司 H 股股票中文简称为"澜起科技"，英文简称为"MONTAGE TECH"，股份代号为"6809"。详见公司于 2026 年 2 月 10 日在上海证券交易 所网站（http://www.sse.com.cn）披露的《关于 H 股挂牌并上市交易的公告》（公 告编号：2026-010）。 根据本次发行方案，公司同意由整体协调人（代表国际包销商）于 2026 年 2 月 10 日悉数行使超额配售权，按发售价每股 H 股股份 106.89 港元（不包括 1% 经纪佣金、0.0027%香港证券及期货事务监察委员会交易征费、0.00565%香港联 交所交易费及 0.00015%香港会计及财务汇报局交易征费）发行 9,883,500 股 H 股 股份。前述超额配售权悉数行使后，本次发行的 H 股由 65,890,000 股增加至 75,773,500 股。香港联 ...

Core Viewpoint - The company, Lanke Technology (688008.SH), expects a significant increase in net profit for the fiscal year 2025, driven by strong demand in the AI industry and a notable rise in the shipment of interconnect chips [1] Financial Performance - The projected net profit attributable to the parent company for 2025 is estimated to be between 2.15 billion and 2.35 billion yuan, representing a year-on-year growth of 52.29% to 66.46% [1] - The net profit excluding non-recurring gains and losses is expected to be between 1.92 billion and 2.12 billion yuan, reflecting a year-on-year increase of 53.81% to 69.83% [1] Industry Trends - The company benefits from the booming AI industry, which has led to a substantial increase in demand for its products [1] - The significant rise in the shipment volume of interconnect chips is a key factor contributing to the company's anticipated growth in operating performance for 2025 [1]